Abstract

Tropical countries are rich in biodiversity. For centuries, local / indigenous populations
have used biodiversity as food, medicines, building materials and for other
purposes. Traditional knowledge has been practised and passed
on from one generation to another, and is intertwined with cultural and
spiritual values. However, there is an imminent danger that valuable
biodiversity and traditional knowledge will be lost forever, for example due to
pollution, industrialisation and destruction of forests. Privatisation of
biodiversity may also have negative welfare effects in tropical countries,
not least by excluding local / indigenous peoples from some of their most
valuable resources. Therefore, it is important to develop mechanisms that
will help to protect biodiversity and traditional knowledge for the benefit
of future generations.